Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
Buoyant secondary markets, strong participation of retail investors, and robust flows from institutional investors helped 76 companies in raising nearly ₹62,000 crore through mainboard initial public offerings (IPOs) in 2023-24, marking a 19% surge from the previous fiscal year. With FY25 on the horizon, expectations are high for yet another stellar year for IPOs.
This optimism is fuelled by a confluence of factors, including the surge in domestic capital, enhanced governance practices, the vibrant spirit of Indian entrepreneurship, and favourable government policies bolstered by FDI support, Pantomath Financial Services Group, said in its report.
According to the report, a total of 76 firms garnered close to ₹62,000 crore via mainboard IPOs in 2023-24, which was way higher than ₹52,115 crore mopped up by 37 companies in the preceding fiscal. Interestingly, firms from multiple sectors tapped the IPO market in FY24.
However, the traditionally dominant financial sector, demonstrated restrained activity, raising ₹9,655 crore, which accounted for less than a fifth of the total capital raised in FY24.
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